Harbor Capital Advisors Inc. Purchases New Shares in InterDigital, Inc. (NASDAQ:IDCC)

Harbor Capital Advisors Inc. acquired a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,259 shares of the Wireless communications provider's stock, valued at approximately $2,020,000. Harbor Capital Advisors Inc. owned approximately 0.06% of InterDigital as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IDCC. Vanguard Group Inc. raised its position in InterDigital by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider's stock valued at $344,370,000 after purchasing an additional 17,238 shares during the period. Disciplined Growth Investors Inc. MN raised its holdings in shares of InterDigital by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider's stock valued at $127,392,000 after buying an additional 10,532 shares during the period. Pacer Advisors Inc. lifted its position in InterDigital by 51,337.0% during the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider's stock worth $86,635,000 after acquiring an additional 741,820 shares in the last quarter. Reinhart Partners LLC. purchased a new position in InterDigital in the 3rd quarter worth approximately $27,762,000. Finally, Emerald Advisers LLC grew its position in InterDigital by 127,997.9% in the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider's stock valued at $14,035,000 after acquiring an additional 120,318 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on IDCC. StockNews.com cut shares of InterDigital from a "buy" rating to a "hold" rating in a research report on Monday. Roth Mkm boosted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares in the company, valued at approximately $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the transaction, the director now owns 7,639 shares of the company's stock, valued at $1,026,681.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,205 shares of company stock valued at $716,218. Insiders own 2.30% of the company's stock.

InterDigital Stock Performance

Shares of IDCC opened at $165.93 on Tuesday. InterDigital, Inc. has a 52-week low of $84.41 and a 52-week high of $169.46. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.05 and a beta of 1.38. The business's 50 day moving average is $142.84 and its two-hundred day moving average is $126.48.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.45 per share. This is a positive change from InterDigital's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital's dividend payout ratio (DPR) is currently 19.23%.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.